All the six hedge fund strategies covered by Dow Jones Hedge Fund Indexes posted negative returns in the first month of 2008.
The net-of-fees January 2008 performance ranged from a high of -1.60% for convertible arbitrage to a low of -10.05% for equity long/short. Equity market neutral posted -1.79%, while event driven and merger arbitrage lost -2.71% and -2.87%. Distressed securities was down 4.09%.
DJHFSB |
Net-of-fees January 2008 Performance |
Convertible
Arbitrage |
-1.60% |
Distressed
Securities |
-4.09% |
Equity
Long/Short |
-10.05% |
Equity
Market Neutral |
-1.79% |
Event
Driven |
-2.71% |
Merger
Arbitrage |
-2.87% |
|
|
Dow
Jones Wilshire 5000 |
-6.06% |
Dow
Jones Wilshire Global Index |
1.69% |
Dow
Jones Corporate Bond Index |
-7.87
% |
On a float-adjusted basis, the Dow Jones Wilshire 5000, the only broad measure of the domestic equity market, returned -6.06% (-6.12% on a full-cap basis) in January.
The fixed income asset class, as measured by the Dow Jones Corporate Bond Index returned 1.69% this month.
Finally, the Dow Jones Wilshire Global Index, the broadest measure of global equity markets, posted -7.87% in the first month of 2008.
Note: January 2008 figures for the Dow Jones Hedge Fund Strategy Benchmarks are based on daily estimates net of fees. Final performance figures for January 2008 will be available towards the end of February 2008. The methodology used to calculate the Dow Jones Hedge Fund Strategy Benchmarks is available on www.djhedgefundindexes.com.